3 ms·

I want to close my account but is transferwise any better?

• hocuspocus 6y ago
  I believe so: * Transferwise has been profitable for a little while now. * Their pricing if fairly transparent and they're always upfront when they need to increase some fees. I could be wrong, but it looks like they're trying to stay competitive but not take part in a race to the bottom. * They haven't been trying to recruit new customers as aggressively as Revolut. * Their MasterCard is a little bit more lenient with offline transactions, which can sometimes be a problem with Revolut. * On the other hand, the mobile app is a bit bland. It does the job, but the UX isn't as good.
  • derencius 6y ago
    I just had my TransferWise account closed during a transfer to pay rent while overseas. They are holding some of my money, with no perspective of returning it. They say they can't disclose the reasons, leaving you helpless. I'd advise to be cautions with transferwise as well. https://transferwise.com/help/24/technical-issues/2961844/why-was-my-account-deactivated https://transferwise.com/help/24/technical-issues/2961844/wh...
    • stavros 6y ago
      I had the same experience, I tried to make a transfer of $100 or so and they just closed my account with no explanation, and I've never been able to open another one since. They did refund everything, though.
    • maccard 6y ago
      If there's a suspicion of money laundering, you won't get any information from any financial institution, FWIW.
• raincom 6y ago
  Yes, if you are not sending money to the third world countries often.